[seiferteric]

There are plenty of ways that you might make a large income in a single year like selling a business you have spent years or decades building up. Your "income" for that year might be several million that year, but it took you years to "earn" it. In general I don't think taxing people that actually have to work for a living is a great thing, all you are doing is prolonging the amount of time they have to work to save enough to either retire or start their own business. I would prefer to shift taxes to cap gains (why do long term cap gains rates exist???) and corporate taxes as well as sales tax.